Archer Daniels Midland Company reports developments tied to its role as a global agricultural supply chain manager, commodity processor, grain merchandiser, and provider of human and animal nutrition ingredients. Recurring updates cover quarterly and annual results, segment performance in Nutrition and agricultural processing activities, guidance, bio-based solutions, and market conditions affecting crops, oilseeds, corn, wheat, sweeteners, starches, ethanol, and biofuels.
ADM news also includes cash dividend declarations on its common stock, board and governance changes, sustainability and ethics recognition, farmer-resilience partnerships, and investor conference appearances. Company announcements often connect its processing and logistics network with food security, nutrition, agricultural markets, and the bioeconomy.
ADM reported third quarter 2024 financial results with net earnings of $18 million and adjusted net earnings of $530 million. The company recorded a non-cash impairment charge of $461 million related to its Wilmar equity investment. Earnings per share were $0.04, with adjusted EPS of $1.09, both down versus prior year. Total segment operating profit was $1,037 million, down 28%. Year-to-date cash flows from operations were $2,468 million. The company completed its financial restatement with no impact on consolidated results for 2023 and first/second quarters of 2024. ADM maintains full-year 2024 adjusted EPS guidance of $4.50-$5.00.
ADM (NYSE: ADM) has announced its 372nd consecutive quarterly cash dividend of 50.0 cents per share on common stock. The dividend will be paid on December 12, 2024, to shareholders of record as of November 21, 2024. This marks over 93 years of uninterrupted dividend payments by the company. As of September 30, 2024, ADM had 478,531,782 outstanding shares of common stock.
ADM (NYSE: ADM) has elected David R. McAtee II, AT&T's Senior Executive Vice President and General Counsel, to its Board of Directors. McAtee, who has served as AT&T's worldwide General Counsel since 2015, brings extensive experience in government regulation, strategic planning, and data security. His expertise includes governance, M&A, finance, supply chain, compliance, and shareholder engagement. ADM's Chair and CEO Juan Luciano highlighted McAtee's critical perspective and experience as valuable assets for ADM's future development.
ADM reported preliminary Q3 2024 results with net earnings of $18 million and adjusted net earnings of $530 million. The company announced a $461 million non-cash charge related to Wilmar equity investment. Earnings per share were $0.04, with adjusted EPS of $1.09. ADM will restate its FY2023 10-K and subsequent 10-Qs due to intersegment sales issues, though these restatements are not expected to materially impact consolidated results. The company lowered its full-year 2024 adjusted EPS guidance to $4.50-$5.00, citing market demand slowdown and operational challenges.
ADM (NYSE: ADM) will release its third quarter financial results for 2024 on Nov. 5, 2024, before the market opens. The company will also provide a slide presentation available for download. A webcast to discuss the results and provide a company update will be hosted at 9 a.m. Central Time. To access the webcast and the slide presentation, visit www.adm.com/webcast. A replay of the webcast will be available for an extended period.
ADM (NYSE: ADM) has announced its participation in the 2024 Barclays Global Consumer Staples Conference in Boston. The event is scheduled for Tuesday, September 3, with ADM's presentation set for 2:45 p.m. CDT. Juan Luciano, Chair of the Board and CEO, along with Monish Patolawala, Chief Financial Officer, will be representing the company.
Investors and interested parties can access a live broadcast of the presentation on ADM's website at www.adm.com/webcast. For those unable to attend or watch live, a replay of the presentation will be available for a time on the same webpage.
ADM and Farmers Business Network (FBN) have launched Gradable, a joint venture to expand their technology platform for sustainable and regenerative agriculture. The platform tracks farming practices, enabling farmers to earn rewards and buyers to identify sustainably produced grain. Gradable currently has over 20,000 farmer users across 12 million acres, scoring 200 million bushels of corn and soybeans annually. It facilitates $30 million in incentives for sustainable practices yearly.
The 50-50 joint venture aims to expand Gradable's reach, serving partners throughout the grain supply chain. It will expand across ADM's facilities in the U.S. and Canada, increase commercial partnerships, and help meet global demand for sustainable food, feed, fuel, and industrial products. ADM's regenerative agriculture efforts enrolled 2.8 million acres last year, highlighting the growing importance of sustainable farming practices.
ADM (NYSE: ADM) has announced its 371st consecutive quarterly dividend, maintaining a remarkable record of over 92 years of uninterrupted payments. The Board of Directors has declared a cash dividend of 50.0 cents per share on the company's common stock. This dividend will be payable on September 11, 2024, to shareholders of record as of August 21, 2024. As of June 30, 2024, ADM reported 478,050,028 outstanding shares of common stock. This consistent dividend payment demonstrates ADM's long-standing commitment to delivering value to its shareholders.
ADM, a global leader in innovative natural solutions, has been awarded the 2024 Sustainability Leadership Award by the Business Intelligence Group. This recognition, part of the group's ninth annual Sustainability Awards program, highlights ADM's commitment to environmental responsibility and innovation.
Alison Taylor, ADM's chief sustainability officer, emphasized that sustainability is foundational to the company's purpose and growth strategy. ADM integrates sustainable practices into its daily operations, serving customers across various value chains while supporting a healthier planet.
The Business Intelligence Group's CEO, Russ Fordyce, noted that sustainability has become important for forward-thinking companies, praising ADM for placing it at the core of their operations. This award underscores ADM's significant contributions to environmental protection and sustainable business practices.
ADM reported Q2 2024 results with EPS of $0.98 and Adjusted EPS of $1.03, along with net earnings of $486 million and adjusted net earnings of $508 million. Earnings before taxes were $596 million, down 47% from Q2 2023. Segment operating profit fell 37% to $1,014 million. The Ag Services & Oilseeds segment dropped 56% to $459 million. Carbohydrate Solutions rose 12% to $357 million, while Nutrition decreased 36% to $109 million. For H1 2024, earnings before taxes were $1,481 million, down 41% year-over-year, and adjusted segment operating profit decreased 30% to $2,338 million. Despite challenging market conditions, ADM affirms its full-year EPS guidance of $5.25 to $6.25.